KARACHI: Selling pressure intensified at the Pakistan Stock Exchange (PSX) on Tuesday, with the benchmark KSE-100 Index falling more than 1,000 points in early trading, extending the weakness witnessed in the previous session.
The KSE-100 Index was down 1,090.37 points, or 0.61%, at 180,219.91 points at around 9:40am, according to the market summary.
The benchmark had fallen as much as 1,107.21 points, or 0.61%, to 180,203.07 points at 9:35am before recovering marginally.
The decline comes a day after the KSE-100 closed at 181,310.28 points, shedding 119.74 points, or 0.07%, as selling pressure returned across several major sectors.
Trading activity was brisk in the opening minutes. By 9:40am, around 66.39 million shares had changed hands in 28,392 trades, with the traded value standing at approximately Rs2.88 billion.
Market breadth remained negative, with 203 stocks declining against 142 advancing, while 218 remained unchanged.
The weakness was broad-based across major indices. The All-Share Index declined 381.85 points, or 0.35%, to 109,020.47, while the KSE-30 Index fell 376.58 points, or 0.70%, to 53,629.28.
Similarly, the KMI-30 Index dropped 1,727.56 points, or 0.68%, to 253,997.62, while the BKTI declined 294.59 points, or 0.57%, to 51,945.64.
The early-session sell-off marks a sharp reversal from last week’s powerful rally, when the KSE-100 surged 5,335.89 points, or around 3%, to close at 181,430.02 points.
With the index now trading below Monday’s close, investors appear to be taking a more cautious stance after the recent strong gains, with the benchmark facing renewed selling pressure around the 181,000-point level.
